IKN Included in 2025-2029 Strategic Projects with IDR 48.8 tn Budget

IKN Included in 2025-2029 Strategic Projects with IDR 48.8 tn Budget

IKN was officially included in the 2025-2029 National Strategic Projects (PSN) list. The Govt. allocated IDR 48.8 tn from the APBN, lower than the previous IDR 89 tn. The funds will be used for judicial and legislative office complexes, access roads, and infrastructure maintenance. Additionally, a Public-Private Partnership (PPP) scheme will fund IDR 60.93 tn for 97 apartment towers, 129 landed houses, roads, and a 138.6 km multi-utility tunnel. A 50 MW solar power plant is also planned under the PPP scheme. (Bloomberg)

 

MACROECONOMY
Japan's Unemployment Rate Rose to 2.5% in Jan-25

Japan's unemployment rate increased to 2.5% in Jan-25 (vs Dec-24; 2.4%), slightly above market estimates. The number of unemployed rose by 20k to 1.74 mn, a six-month high, while employment grew by 130k to a record 68.27 mn. The labor force expanded by 130k to 70.01 mn, with those outside the labor force declining by 110k to 39.81 mn. The labor force participation rate rose to 63.2% in Nov-24 (vs Nov-23; 62.6%). (Trading Economics)